October 22, 2015
The history of formal banking in America dates back to the 1800s. By 1820, over 300 commercial banks and several mutual savings banks were established to promote thrift among the poor. But when it comes to saving money, you may learn more at the zoo than the bank. Whether be it squirreling (hiding money or something of value in a safe place) or building a nest egg (a sum of money saved for the future), these animals are far from extinction, and Americans can learn a thing or two from them.
Ask any American, What do you do with your loose change? and you can assume three things:
1. You can guess what generation they are from.
2. You’ll know if they have recently used cash as tender.
3. You’ll have an idea if they are a penny pincher or a big spender.
Without going into an in-depth, theoretical analysis of the habitual savings patterns of Americans, judging by the influx of ne ...